FedEx miss is worst analysts seen in 20 years

Sinking stock: A FedEx delivery van seen near a distribution centre in Carson, California. The company withdrew its earnings forecast for 2023, fuelling fears of a broad-based earnings decline. — Reuters

NEW YORK: Wall Street analysts didn’t mince words in discussing FedEx Corp’s forecast for the current quarter – which missed by a landslide – and its withdrawal of full-year guidance. It’s really bad.

To researchers at Deutsche Bank AG it’s the worst report they’ve seen in two decades.